It is Important to have a correct business structure in place as it determines your Taxes, Personal Liability and Earning Potential

Starting a new business can be quite an adventure, but it is not something that you would want to undertake uninformed. When it comes to choosing a business structure, business owners tend to make hasty decisions based on a lack of reliable information which can only lead to long-term losses.

At ThinkWiser our aim is to provide potential entrepreneurs and business owners with professional advice regarding their business structure that allows them to grow and protect their hard-earned wealth. Some of the factors that you need to consider are access to limited liability provisions, ongoing costs, personal responsibilities etc

Which one is the right Business Structure for you?

There are numbers of Structures you can choose from when starting a business. It may seem a simple matter but the Structure impacts your taxes, Personal liability, Asset Protection so it is beneficial that you choose the right business structure from day one

Sole Trader

An individual, as the exclusive owner of the business, trading on their own.

Partnership

People, companies and/or trusts running a business together (not as a company)

Company

A legal business entity owned by the Shareholders and run by the Directors.

Trust

Discretionary or unit Trustees (people or companies)operating a business for beneficiaries.